Litecoin: liquid, accessible, low cost
Mr. Lee emhasizes that Litecoin (LTC) is among the leaders of the altcoin segment in terms of accessibility and liquidity. For instance, it is avaliable on almost every crypto exchange platform. It is only Bitcoin (BTC) that surpasses Litecoin (LTC) by acessibility on crypto-supporting automated teller machines (ATMs).
Litecoin's value proposition:
– High liquidity & on every exchange
– #2 supported on ATMs
– 350m @PayPal users
– $104m @Grayscale LTCN trust
– 99% Scrypt hashrate dominance
– MWEB fungibility/privacy
– Low fees & fast txns
– $500b+ value transferred
– 9+ years w/ zero downtime
— Charlie Lee [LTC⚡] (@SatoshiLite) December 21, 2020
The technology behind the Litecoin (LTC) allowed this blockchain to work for nine years with “zero downtime” offering low costs and fast transactions for its customers. It is worth noticing that Litecoin (LTC) was the first network to implement SegWit and Lightning Network solutions adopted in Bitcoin (BTC).
But why did Charlie Lee sell?
Further, Charlie Lee indicated numerous technical advances that make LTC attractive for privacy-focused users. It includes MimbleWimble protocol for by-default transactions obfuscating. At the moment, it is up and running in testnet with only a few bugs to be fixed.
Accompanied by reliable Scrypt algorithm dominance in its hashrate, Litecoin (LTC) technology allows this network to transfer hundreds of billions in U.S. Dollar equivalent.
Meanwhile, some critics from Twitter asked why Charlie Lee sold all of his Litecoins (LTC). Litecoin Foundation, the non-profit behind the progress of Litecoin (LTC) responds that this controversial decision brings benefits to the Litecoin (LTC) audience:
Charlie giving up his stake makes Litecoin more decentralized and keeps monetary influence from clouding decision making.
— Litecoin Foundation (@LTCFoundation) December 21, 2020